For each of the following multiple choice questions, choose the most appropriate answer :
1. What are the financial planning need for a 38 year old lady with 2 year young daughter, whose husband has passed away leaving enough insurance cover?
A. Estate planning
B. Investment management
C. Loan protection
D. Pension planning
2. If we hold 100 units in gold ETF, how much grams we have in physical :
A. 5 or 10 grams
B. 10 or 15 grams
C. 15 or 25 grams
D. 50 or 100 grams
3. Pooling of insurance applies to
A. All types of insurance
B. All types of insurance except Motor insurance
C. Only life insurance
D. Only Non-life insurance
4. Manoj & Rakesh both buy an endowment plan for the same quarterly premium and same SBoth surrender the plan after the same number of years, but Manoj gets higher Surrender Value as compared to Rakesh. This is because
A. Rakesh bought the policy for longer term
B. Manoj bought the policy for longer term
C. Manoj disrlosed all material facts
D. It is calculation error
5. Indisputability clause can be enforced by the insurance company during the
A. First five years of policy
B. First Two years of policy
C. Claim
D. Inception of the policy
6. customer receives automatic payments twice in gap of 5 years in his policy and after 1 year, on his death his nominee receives entire amount again. Which policy do you think he has?
A. Endownient
B. Money Back
C. Term Plan
D. Annuity
7. The need for investment advice from an insurance agent normally results from what overriding key factor?
A. Absence of any long-term goals
B. Inability to prioritise future financial needs
C. Lack of market knowledge
D. Shortage of available funds
8. In money back Plan the nomination can be done:
A. Outset stage only
B. Policy anniversary only
C. Outset and policy anniversary only
D. Any time
9. Ajay is married with 2 kids 2 years and 4 years. After fact finding it is found that Ajay has few needs like Income Protection, Child Education, Health & pension etfor which he has no cover so far. As an agent what you will suggest as his lowest priority?
A. Health Plan
B. Child Education Plan
C. Life Insurance Plan
D. Pension Plan
10. On the maturity of an endowment policy, a reduced sum insured is paid out. What is the most likely reason for this?
A. The instalments were commuted by the policyholder
B. The policyholder's health seriously deteriorated during the policy term
C. The policy was made paid up during the policy term
D. The policy was subject to a lien
11. The sole focus during a client's fact-find session was healthcare requirements and estate planning. Which main life stage is he most likely to fall into?
A. Young married
B. Young married with children
C. Pre-retirement
D. Retirement
12. In which of the following plans remaining part of the Sum Assured is paid on maturity?
A. Endowment plan
B. Convertible plan
C. Money back plan
D. Term Plan
13. customer who has taken whole life policy has to renew the insurable interest in the policy at the following times
A. Once he attains the age of 70
B. Once the policy has been in force for term of 30 years
C. At the time of revival of the policy
D. When there is change in the nomince
14. If contract is signed by 15 years old boy, this contract will be
A. Null and void
B. Invalid
C. Voidable
D. Valid
15. ABC Insurance Company has appointed many agents. They are helping in underwriting process to the underwriters. However, Mr. Vimal, an agent has done adverse selections. From insurance company's point of view, which among the following is most likely considered to be the adverse selection?
A. Obtaining policy from very poor person
B. Obtaining policy from rich man
C. Vimal has obtained most of his policies from railway porters
D. In certain cases material facts are changed to obtain higher claims
16. The main purpose of the guaranteed insurability rider benefit is to give the policyholder the right to
A. cancel a health-based exclusion after a symptom-free period
B. include his parents under the policy
C. increase cover when a key life event occurs
D. maintain cover despite a fall in investment value
17. In the context of financial planning, how is the difference between real needs and perceived needs best described?
A. Real needs are financial needs and perceived needs are non-financial needs
B. Real needs are actual needs and perceived needs are based on a client's thoughts and desires
C. Real needs are identified by the insurance agent and perceived needs are identified by the client
D. Real needs are needs which satisfy an objective and perceived needs are needs which do not satisfy an objective
18. When should an agent disclose the commission which he will earn from the product which he is going to sell :
A. On demand from customer
B. After the fact finding process
C. After quantifying the need
D. After the product is recommended to the client
19. The ombudsman's powers are restricted to insurance contracts of value not exceeding?
A. 50 lac
B. 30 lac
C. 25 lac
D. 20 lac
20. Which body has created call center for logging complaint
A. Life Insurance Council
B. IRDA
C. Insurance Association
D. Insurance Institute of India
Electrician Books
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Rs270 |
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Rs270 |
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Rs315 |
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Rs216 |
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Rs180 |
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Rs217 |
Rs250 |
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Rs258 |
Rs299 |
Rs88 |
Rs101 |
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Rs387 |
Rs315 |
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Rs270 |
Rs245 |
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Rs459 |
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Rs187 |
Rs136 |
Rs299 |
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Rs180 |
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Rs39 |
Rs323 |
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Rs288 |
Rs270 |
Rs323 |
Rs215 |
Rs243 |
Rs160 |
Rs225 |
Rs387 |
Rs315 |
Rs359 |
Rs288 |
Rs270 |
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